Green Plains profit decline blamed on ethanol oversupply, pushes for E15

November 3, 2017 |

In Nebraska, large ethanol producer Green Plains announced third-quarter profits fell excluding certain items, of $7.4 million, or 18 cents a share (compared to a net profit of $8 million or 20 cents a share a year earlier). The reason given was because of motor fuel’s oversupply problem that Green Plains hope will be remedied by increasing adoption of higher blends like E15. On an investors call, CEO Todd Becker told analysts that right now a 10 percent blend is ubiquitous in the U.S., but that is not high enough of a mixture to fit all the renewable fuel mandated by federal law into the nation’s gas tanks, according to Omaha World-Herald. “We are seeing a real competitive response to stations that put in” E15-capable pumps, tanks and hoses, Becker told Omaha World-Herald. “Those that don’t are losing share.”

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